Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Faceless reassessment jurisdiction under section 144B, read with CBDT directions extending faceless assessment to reassessments under section 147, permits both NaFAC and the jurisdictional Assessing Officer to conduct such proceedings. A reassessment completed by NaFAC before notification under section 151A remained valid because it was founded on the existing faceless-assessment mandate, the relevant limitation exclusion did not apply, and subsequent validation supported issuance of reassessment notices by officers other than NaFAC. However, where reassessment was completed ex parte and non-participation was attributed to longstanding mental illness, natural justice required a reasonable opportunity to submit evidence. The additions were remanded for fresh appellate adjudication after three effective opportunities.
Faceless reassessment jurisdiction under section 144B, read with CBDT directions extending faceless assessment to reassessments under section 147, permits both NaFAC and the jurisdictional Assessing Officer to conduct such proceedings. A reassessment completed by NaFAC before notification under section 151A remained valid because it was founded on the existing faceless-assessment mandate, the relevant limitation exclusion did not apply, and subsequent validation supported issuance of reassessment notices by officers other than NaFAC. However, where reassessment was completed ex parte and non-participation was attributed to longstanding mental illness, natural justice required a reasonable opportunity to submit evidence. The additions were remanded for fresh appellate adjudication after three effective opportunities.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
